Life is good for Sofia Vergara these days. She is the highest-paid female actor in the world, according to Forbes’ latest list. She made $43 million in 2020 and has consistently held that spot on their rankings since 2011. In addition to her massive TV salaries from Modern Family and America’s Got Talent, Vergara rakes in approximately $90 million in combined endorsement deals, GoBankingRates reports. Endorsement brands include the likes of Head & Shoulders, Pepsi, Quaker Oats, and CoverGirl. The beautiful actress and model best known for her starring role as Gloria Delgado-Pritchett on the hit ABC series “Modern Family,” is also an progressive businesswoman building a Latino-focused business empire. So let’s take a closer look at her business ventures:
In 2017, Vergara and her business partner, Renata Black, launched a unique subscription service for women’s underwear. The company, EBY (Empowered By You), offers women the convenience of buying comfortable underwear via subscription, and 10% of net sales go toward Seven Bar Foundation, a nonprofit founded by Renata Black. Seven Bar Foundation offers microfinance programs for women across the globe to start their own business. The foundation has a 97 percent repayment rate globally. “The impact and the profitability of the business are both equally important to me; hence why I invested in a social enterprise,” said Vergara to CNN Business.
LATIN WORLD ENTERTAINMENT
The actress, who got her start in the showbiz business in 1994, noticed there weren’t many agents representing Hispanics in the entertainment industry. Her response was to find a business solution. In 2012, she launched with co-founder Luis Balaguer — talent management firm Latin World Entertainment (LWE). Los Angeles-based LWE now represents some of the biggest names in Spanish-language TV, and has since expanded into licensing and marketing. “I believe the most powerful way to have an impact is through business,” said Vergara. The multiservice talent management, marketing, production, endorsement and licensing firm has become the go-to destination for Hollywood producers to search for Latino talent, pitch Latino-themed projects and get advice on how to reach Hispanics.
Raze, a Latino-focused digital media company that Vergara started in 2017 with Balaguer and Emiliano Calemzuk, is a digital mobile video platform targeting young Latino audiences through a slate of scripted and unscripted projects across multiple platforms for a burgeoning demographic. Among its programs is Raze Camp, in which YouTube stars Sebastian Villalobos, Luisa Fernanda, Mario Ruiz and Juan Pablo Jaramillo visit an air base in Tolemaida, Colombia, to learn what it takes to be a soldier. Ruiz also hosts a series in which he interviews guests from extreme locations. Other projects include dance-centric Sinchronicity, Bogota-set Foodie Hero With Juana Martinez, beauty series Look and interview show By Me. In Paisa Soccer Experience, meanwhile, online influencer Paisa Vlogs explores the soccer clubs of Latin America.
Launched in partnership with Walmart in 2019, Sofia Jeans by Sofia Vergara, is focused on women feeling confident about themselves and their body types, includes pants, skirts, jackets and tops in sizes that range from 0 to 3X. She wishes for women to celebrate their bodies while staying fashionable. “Designing this clothing line has been a dream come true. This collection is meant to make women look and feel great,” said Sofia. “Walmart targets the people who I want to target, which are real people who don’t spend $300 on a pair of jeans, I’ve always wanted to work with Walmart and wanted to be a part of what they’re doing.” said Vergara.